Wells Fargo & Company Cuts Criteo (NASDAQ:CRTO) Price Target to $35.00

Criteo (NASDAQ:CRTO) had its target price dropped by stock analysts at Wells Fargo & Company from $40.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 84.84% from the company’s previous close.

Several other brokerages also recently weighed in on CRTO. Benchmark decreased their target price on Criteo from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Criteo in a research note on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of Criteo in a research note on Thursday, October 30th. DA Davidson set a $38.00 price objective on Criteo in a research report on Thursday, October 30th. Finally, Zacks Research cut shares of Criteo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Criteo currently has a consensus rating of “Hold” and an average target price of $37.56.

Criteo Price Performance

Shares of Criteo stock opened at $18.94 on Tuesday. Criteo has a 1 year low of $17.83 and a 1 year high of $47.25. The company has a market capitalization of $968.53 million, a P/E ratio of 6.41 and a beta of 0.49. The business has a 50 day moving average price of $20.06 and a 200 day moving average price of $21.40.

Insider Buying and Selling

In other news, CFO Sarah Js Glickman sold 3,982 shares of Criteo stock in a transaction on Monday, November 24th. The shares were sold at an average price of $19.51, for a total transaction of $77,688.82. Following the transaction, the chief financial officer owned 353,227 shares in the company, valued at approximately $6,891,458.77. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan Damon sold 3,222 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $21.04, for a total transaction of $67,790.88. Following the completion of the sale, the insider owned 114,286 shares of the company’s stock, valued at $2,404,577.44. The trade was a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,598 shares of company stock valued at $211,697. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On Criteo

A number of large investors have recently added to or reduced their stakes in CRTO. Ballast Asset Management LP acquired a new stake in Criteo during the 3rd quarter worth $4,245,000. VELA Investment Management LLC grew its stake in shares of Criteo by 22.2% during the third quarter. VELA Investment Management LLC now owns 430,165 shares of the information services provider’s stock worth $9,722,000 after purchasing an additional 78,225 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Criteo by 457.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 215,309 shares of the information services provider’s stock worth $4,866,000 after acquiring an additional 176,715 shares in the last quarter. Seizert Capital Partners LLC grew its position in Criteo by 48.6% during the 3rd quarter. Seizert Capital Partners LLC now owns 183,724 shares of the information services provider’s stock worth $4,152,000 after purchasing an additional 60,067 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Criteo by 6.9% during the second quarter. Neuberger Berman Group LLC now owns 6,542,808 shares of the information services provider’s stock worth $156,766,000 after acquiring an additional 419,808 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Criteo Company Profile

Criteo is a global technology company specializing in digital performance advertising and commerce media solutions. The company provides a range of AI-driven ad products designed to help brands, retailers, and agencies deliver personalized promotional messages to consumers across web, mobile, and connected TV environments. By leveraging large-scale data analytics and machine learning algorithms, Criteo’s platform optimizes the timing, placement, and creative of ads to drive engagement and conversions.

At the core of Criteo’s offering is its dynamic retargeting solution, which enables advertisers to automatically generate and display personalized product recommendations based on user behavior.